Owen T. Gorman was born in 1906 in Queens, NY, into an Irish immigrant family of very modest means. He was the only son of four children. He attended parochial schools and won many medals and awards for being an outstanding scholar. After graduation from high school, he began his studies at the Fordham School of Law. Owen worked full-time in addition to attending classes. His hard work paid off when in 1929 he graduated from Fordham at the top of his class.
Owen began his law practice in New York City but had to put this on hold after contracting tuberculosis. He received treatment at the Trudeau Sanatorium in Saranac Lake, NY. At the Hospital he met his first wife, Catherine Cummings (“Kay”), a lovely young woman who would visit him each day and read to him. They fell in love and were soon married.
Upon his return to NYC, Owen continued in his law practice as a Corporate Tax Attorney, specializing in real estate and tax law. Among the companies he represented were American Sugar, Coca-Cola and JC Penney, just to name a few. In addition to compensating Owen monetarily for his services, he was also awarded stock in many of the companies he represented. This sparked his interest in the investment world. Owen read The Wall Street Journal, New York Times and Barron’s daily. He became a gifted investor and this was the beginning of his financial wealth.
One of the most unique things about Owen was the hours he kept. He slept during the day and worked all night. Of course this presented a problem for meetings and court cases but it was solved by clever scheduling and skipping a few hours of sleep when necessary.
Owen had a keen sense of humor and could break into an Irish song at a moment’s notice. He also related many humorous stories about his life experiences when he could. Owen loved to vacation in Miami Beach, FL, Saranac Lake, NY or his summer home in Montauk, Long Island.
Owen and Kay lived modestly but were silent, generous benefactors to several charitable organizations throughout their lives. One of his favorite charities was the Franciscan Sisters of Peekskill, NY. His sister, Jane Thomas, was a member of this order and had also served as President of Ladycliff College.
When his beloved wife died in 1977, her youngest sister Alice came to NYC to assist Owen with his law practice. They were later married in 1997. Owen died in 1999 at the age of 93. It was his wish that his money would form a foundation so that others could benefit from his good fortune.